AP Rentals Holdings Limited provided group earnings guidance for the five months ended August 31, 2016. The board of directors of the company announced that the unaudited management accounts of the Group for the five months ended August 31, 2016, the Group's net profit in five months of 2017 has recorded a significant decline of about 65% as compared with that for the five months ended August 31, 2015. The Board considers that the significant decline in the net profit of the Group for five months of 2017 as compared to five months of 2016 is mainly attributable to the decrease in revenue of about 18% mainly as a result of the decrease in rental income from machinery in Macau which is due to the slowdown of business in Macau that the Group has experienced since October 2015 as disclosed under the section headed ‘Summary -- Recent Developments'’ in the prospectus of the company dated March 24, 2016; and the decrease in trading income, which largely fluctuates with market demand based on customers' equipment needs; the increase in depreciation expenses for the Group's owned fleet of equipment of about HKD 3.8 million, due to the Group's purchase of equipment as part of its strategy to expand its rental fleet; the adjustment of rental price charged by Kanamoto (HK) Co., Ltd, being the Group's supplier, in February 2016 as disclosed under the section headed ‘Business' in the Prospectus, which has the effect of increasing the Group's machinery hiring expenses by about HKD 1.6 million; the increase in staff costs for the Group's equipment operators, technicians and truck drivers of about HKD 1.2 million; and the increase in administrative expenses of about HKD 3.3 million mainly due to the increase in expenses for professional fees and compliance fees, audit fee, director fees and public relation expenses, following the listing of the company in April 2016.